# The ECB strategy review is a missed opportunity

> An opinion piece by JPMorgan's head of western European economics argues the ECB's strategy review missed a chance to address persistent inflation undershoot. It says the central bank has tools to return inflation to target but has not used them.

- Date: 2021-07-22 · published 2021-07-22T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/46298-the-ecb-strategy-review-is-a-missed-opportunity
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Persistent undershoot points to a longer period of low euro-area rates and a weaker euro outlook. This is an analytical view with little immediate effect on feed commodity prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2020-01-23 | [ECB launches review of its monetary policy strategy](https://feedsoft.ai/events/55289-ecb-launches-review-of-its-monetary-policy-strategy.md) | -0.7% | -2.6% |
| EURUSD | 2026-07-24 | [ECB holds rates steady: Why is the Euro rising?](https://feedsoft.ai/events/18562-ecb-holds-rates-steady-why-is-the-euro-rising.md) | +1.3% | +2.7% |
| EURUSD | 2024-09-12 | [VIEW ECB delivers second rate cut of the year](https://feedsoft.ai/events/28528-view-ecb-delivers-second-rate-cut-of-the-year.md) | +0.9% | -0.6% |
| EURUSD | 2017-05-24 | [Europe’s economic recovery: challenges and opportunities for the banking sector](https://feedsoft.ai/events/71215-europe-s-economic-recovery-challenges-and-opportunities-for-the-banking-sector.md) | +0.3% | -0.5% |
| EURUSD | 2025-09-11 | [Traders raise bets that the ECB is done cutting rates \| Reuters](https://feedsoft.ai/events/23093-traders-raise-bets-that-the-ecb-is-done-cutting-rates-reuters.md) | +1.1% | -0.9% |

## Sources

- ft.com: https://www.ft.com/content/a590671c-7c16-4767-b54f-c6ba592b6b4e?syn-25a6b1a6=1

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.